We know that Zijin will command just on 60% of NKP stock once the Genorah sale is completed at 10c. Yes a very cheap exit for directors who were influenced by their own needs rather than all shareholders.
What we will never know is the behind the scene deal ( cheap loan, royalty etc) that may have been executed with regards to funding Genorah's 26% of the Garatau Project.
We now know that the base price for any proposed takeover of minorities will be 10c. So who will exit at this price?
The last Annual Report shows the following interesting facts:
Number of shares No of Holders No of Shares
1-1,000 262 173,000
1,001-5,000 1,084 3.4m
5,001-10,000 833 7m
10,001-100,000 1,593 59m
100,001-0ver 475 826m
4,247 hold 896.3m shares
Lets assume that all holders with 100,000 or less sell at 10c . This means that Zijin will pick up 70m shares held by minorities.
That still leaves 285m shares or 31% held by 475 shareholders who most likely will not cave in due to their average entry price.
Its very important that when the low ball offer is delivered by Zijin that shareholders do the maths. There is no way that Minorities will be taken over at the same price as Genorah. Therefore even at todays prices NKP is a big BUY.
- Forums
- ASX - By Stock
- NKP
- Takeover
Takeover
-
- There are more pages in this discussion • 38 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add NKP (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
LU7
LITHIUM UNIVERSE LIMITED
Alex Hanly, CEO
Alex Hanly
CEO
SPONSORED BY The Market Online